Arvinas, Inc. reported significant financial growth in its latest quarterly results, with revenue reaching $188.8 million for the three months ended March 31, 2025, compared to just $25.3 million in the same period last year. This increase of $163.5 million was primarily driven by a substantial rise in revenue from the Vepdegestrant (ARV-471) Collaboration Agreement with Pfizer, which contributed $167.8 million due to adjustments in program cost estimates following the removal of two planned Phase 3 combination trials. The company also recorded a net income of $82.9 million, a turnaround from a net loss of $69.4 million in the prior year, resulting in earnings per share of $1.14, compared to a loss of $0.97 per share in the same quarter of 2024.
Operating expenses for the quarter totaled $117.4 million, up from $108.6 million a year earlier, with research and development expenses increasing to $90.8 million from $84.3 million. The rise in R&D costs was attributed to higher external expenses related to ongoing clinical trials, particularly for the vepdegestrant and ARV-102 programs. General and administrative expenses also saw a slight increase, totaling $26.6 million, reflecting higher professional fees and costs associated with developing commercial operations.
In terms of strategic developments, Arvinas is advancing multiple clinical programs, including vepdegestrant, ARV-393, and ARV-102, with plans to initiate a first-in-human Phase 1 clinical trial for ARV-806 targeting KRAS G12D mutations later in 2025. The company is also winding down its bavdegalutamide program. Additionally, Arvinas announced a workforce reduction of approximately 33% in April 2025, aimed at streamlining operations and enhancing the efficiency of its portfolio progression, which is expected to incur costs of around $10 million.
As of March 31, 2025, Arvinas held cash, cash equivalents, and marketable securities totaling approximately $1.0 billion, which the company believes will fund its operations into the second half of 2028. The company continues to rely on collaboration agreements for revenue generation, with no product sales to date. Looking ahead, Arvinas anticipates ongoing operating losses as it invests in clinical trials and product development, emphasizing the need for additional funding to support its operations and growth initiatives.
About ARVINAS, INC.
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